SÃO PAULO (Reuters) – The Federal Attorney General’s Office (AGU) announced late this Friday afternoon (27) that it reached an agreement the day before that claims to put an end to the debts of the Service Time Guarantee Fund () of the extinct Varig airline.
The transaction, agreed between the Union and Varig’s bankrupt estate, directly affects more than 15,000 former employees of the airline, AGU said in a press release.
The agreement has a value of R$575 million and will be paid in cash, according to the agency.
The AGU stated that the agreement is an outcome of another agreement, signed in March this year, which determined the payment of R$4.7 billion by the Union to Varig’s bankrupt estate. This amount was set as compensation for losses caused by the tariff policy established in the country between 1985 and 1992, during the Cruzado Plan, which resulted in the freezing of air ticket prices.
“The Federal Court of the Federal District has already issued the corresponding court orders, and payment will be made throughout 2025,” stated the AGU.
(By Alberto Alerigi Jr.)
